Robert Knakal's Page

In what has become a very tangible trend, we have noticed a tremendous influx of foreign capital looking to acquire investment properties in the Manhattan marketplace recently.

About 6 months ago, we began to see a significant increase in the number of inquiries we were getting from overseas investors looking to purchase properties in Manhattan. Interestingly, these investors were typically not people who are real estate investors in their country of origin. They made the majority of their c… Continue

Dear Friends,

We sat down for our quarterly conversation with Massey Knakal Chairman, Robert Knakal to discuss his views on the New York City property sales market, economics and political initiatives that have effected the first half of 2009. We hope you find this interview informative and timely.


Q: Now that the second quarter of 2009 has come to an end, how has market activity been?

A: In the first half of 2009, we have seen a little over $2.8 billion in transaction volume.… Continue

The most common question I am asked these days is, “When will the good times return to the commercial real estate market?” That question is impossible to answer with accuracy as we are in unprecedented times with unprecedented government intervention and an unprecedented global recession. Below is a scenario that I think could be possible and may even be probable based upon what we are presently seeing in the market.

I have read many reports recently stating that “experts” are seeing a turnarou… Continue

I’ve been selling investment properties in New York City for 25 years and have never seen anything like the low level of sales that the market experienced in the first quarter of 2009.

In order to know just how abysmal the volume of sales has been, let’s review a little history. In order to study volume of sales we track a sample of 125,000 properties which fall into the C, D, S & K classes of properties which include multifamily apartment buildings, retail and mixed-use properties. Duri… Continue

On February 2 of this year, the New York State Assembly passed a package of bills to modify and strengthen rent regulation to an even greater degree in the tenant’s favor. The new legislation would repeal vacancy decontrol laws, increase penalties for tenant harassment and revoke a statute that restricts New York City from strengthening its rent regulation laws.

Legislators contend that these bills will help maintain the affordability of rent stabilized housing, but they will have the opposite… Continue